FirmAtlas
Company handbook · IFF · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
IFF · CIK 51253 · LATEST FILING: 10-Q JUN '26 · FILED AUG 4, 2026
INTERNATIONAL FLAVORS & FRAGRANCES INC
$90.68
+0.39 (+0.43%)
Close, Oct 16, 2026 · 52-week $61–92
Last fiscal year
INTERNATIONAL FLAVORS & FRAGRANCES INC reported revenue of $10.9B for the year ended Dec 31, 2025 (FY25), down 5.2% from FY24. Net loss was $361M, operating cash flow $850M and free cash flow $256M. Source: 10-K filed Feb 27, 2026.
Market cap
$23.2B
P/E
83.7
EV/EBITDA
49.2x
P/B
1.7
Div yield
1.76%
ROIC
−1.6%
Revenue 1Y
−5.2%/yr
EPS 1Y
n/m
Shares 1Y
+0.0%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOJ. Erik Fyrwald
HQNew York, NY
AuditorPricewaterhouseCoopers LLP
Year endsDecember
Revenue by segment · FY25
Food Ingredients30%
Taste23%
Scent23%
Health Biosciences21%
Pharma Solutions3%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
−3.5%
−9.3%
11.0%
44.9%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$2.0B deployed
Capex
$1.1B
52.4%
Dividends
$923M
45.7%
Buybacks
$38M
1.9%
Operating cash flow over the period: $1.9B. Total debt changed by −$2.9B. R&D of $1.4B is already inside operating costs.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
11,484
10,890−5.2%
10,823
YoY
−5.2%
Gross profit
4,124
3,938−4.5%
3,950
Gross margin
35.9%
36.2%+0.3 pp
—
Operating income
766
(382)−149.9%
810
Operating margin
6.7%
−3.5%−10.2 pp
—
EBITDA
1,781
580−67.4%
—
EBITDA margin
15.5%
5.3%−10.2 pp
—
Interest expense
305
229−24.9%
—
Interest coverage
5.84x
2.53x−3.31x
—
Net income
263
(361)−237.3%
277
YoY
−237.3%
Net margin
2.3%
−3.3%−5.6 pp
—
EPS (diluted, $)
1.04
−1.41−235.6%
1.09
YoY
−235.6%
Balance sheet
Total assets
28,723
25,539−11.1%
25,154
Cash & short-term investments
469
590+25.8%
—
Accounts receivable
1,624
1,731+6.6%
—
Inventory
2,133
2,245+5.3%
—
Net PP&E
3,739
4,029+7.8%
—
Other assets
20,758
16,944−18.4%
—
Total liabilities
14,889
11,385−23.5%
11,178
Accounts payable
1,283
1,287+0.3%
—
Total debt
8,891
5,951−33.1%
4,785
Other liabilities
4,715
4,147−12.0%
—
Shareholders’ equity
13,834
14,154+2.3%
13,976
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
1,070
850−20.6%
1,161
Net income
267
(359)−234.5%
—
Depreciation & amortization
1,015
962−5.2%
—
Stock-based compensation
77
88+14.3%
—
Working capital & other
(289)
159n/m
—
Cash from investing
326
2,269+596.0%
—
Capex
(463)
(594)n/m
—
PP&E sold
21
21+0.0%
—
Acquisitions
0
—
—
Other investing
768
2,842+270.1%
—
Cash from financing
(1,606)
(3,091)n/m
—
Debt repaid
(1,030)
(2,913)n/m
—
Dividends
(514)
(409)n/m
—
Buybacks
0
(38)n/m
—
Other financing
(62)
269n/m
—
Net change in cash
(264)
119n/m
—
Free cash flow (OCF − capex)
607
256−57.8%
540
Where the cash went
Operating cash flow
1,070
850−20.6%
1,161
Reinvested in the business
463
594+28.3%
—
% of operating cash flow
43.3%
69.9%
Capex
463
594+28.3%
621
Acquisitions
0
—
—
R&D (memo, already in costs)
671
694+3.4%
—
Free cash flow
607
256−57.8%
540
YoY
−57.8%
Returned to shareholders
514
447−13.0%
—
% of free cash flow
84.7%
174.6%
Dividends
514
409−20.4%
—
Buybacks
0
38n/m
—
Change in total debt
—
(2,940)
—
Cash left over
—
(3,131)
—
FCF conversion (FCF ÷ net income)
230.8%
—
—
Owner earnings
—
(208)
—
Owner earnings margin
—
−1.9%
—
Buyback yield
—
0.2%
—
Returns & ratios
ROIC (all capital)
3.0%
−1.6%−4.6 pp
—
ROIC (operating)
10.7%
−5.1%−15.8 pp
—
Net debt / EBITDA
4.73x
9.24x+4.51x
—
Debt / equity
0.64x
0.42x−0.22x
—
Cash conversion cycle (days)
94
108+15 d
—
ROE
1.9%
−2.6%−4.5 pp
—
ROA
0.9%
−1.4%−2.3 pp
—
ROCE
3.1%
−1.8%−4.9 pp
—
NOPAT
664
(333)−150.1%
—
Invested capital (operating)
6,213
6,718+8.1%
—
Invested capital (all)
22,256
19,515−12.3%
—
Reinvestment rate
—
−151.7%
—
Debtor days
52
58+6 d
—
Inventory days
106
118+12 d
—
Days payable
64
68+4 d
—
Net debt is 9.2x EBITDA (FY25).
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
2,694
3,434
2,741
1,954
vs year-ago quarter
Gross profit
983
1,096
1,018
853
Gross margin
36.5%
31.9%
37.1%
43.7%
Operating income
226
153
273
158
Net income
40
18
169
50
vs year-ago quarter
Net margin
1.5%
0.5%
6.2%
2.6%
EPS (diluted, $)
0.16
0.07
0.66
0.20
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
25,768
25,539
25,144
25,154
Cash & equivalents
621
590
562
569
Total debt
5,111
5,951
4,893
4,785
Shareholders’ equity
14,241
14,154
14,120
13,976
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
164
318
257
422
Capex
132
188
165
136
Free cash flow
32
130
92
286
vs year-ago quarter